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Chase Clear & Simple — Fact Sheet

Chase's Clear & Simple initiative is a collection of tools, resources and business practices that help customers better understand and manage their credit card accounts. We believe that the appropriate use of credit cards is a shared responsibility between our customers and us. Customers need to understand the terms of their agreements and we need to help them live up to those terms.

Chase customers are among the most loyal and financially responsible in the industry. Providing them with useful tools and information plays a key role in their financial success, helping to build the lifelong, engaged relationships we seek. Through Clear & Simple, we hope to empower our customers with choice and control so they can avoid fees, keep their best rates and more effectively manage their use of credit.

Some of the tools, account management options and practices included in Chase Clear & Simple are:

1. No Universal Default: Unlike many other banks, Chase does not use credit bureau information to initiate an increase to a customer's credit card interest rate.
2. Choice in Due Dates: Customers can select their own payment due dates to help them better schedule payments with paydays, commission checks, social security payments and other sources of income.
3. Spending Controls: Customers can cap or lower their credit lines to better manage their spending.
4. Over-limit Protection: Customers can protect themselves against over-limit fees by choosing to have transactions declined that would cause them to exceed their limit.
5. Free Account Reminders: To help customers avoid fees, maintain their overall creditworthiness and easily manage their accounts, Chase will alert them when they are nearing payment due dates or credit limits.
6. Return to Lower Rates: Chase understands that mistakes can be made. If a customer's interest rate is increased for paying late, exceeding the credit limit or paying with insufficient funds, Chase offers a path back to the lower rate. Customers who sign up for automatic payments and keep their account in good standing for 12 months will have their rate automatically reset to the lower, original rate.
7. Payment Calculator: Chase's easy-to-use payment calculator helps customers understand the amount of time it will take to pay off a credit card balance making minimum payments or any amount they choose.
8. Credit Education: Through the Chase Clear & Simple Web site (www.chaseclearandsimple.com), Chase provides easy access to a wide variety of budgeting tools and financial information in English and Spanish to help all consumers, at any life stage, improve their financial future.
9. Proactive Outreach: To help customers stay out of financial trouble, Chase proactively reaches out to customers who are showing signs of financial stress, even before they get behind on credit card payments, to offer solutions and customized payment programs.
10. Military Shouldn't Pay Extra Price: Chase has a history of going above and beyond federal law in its treatment of military customers, such as reducing interest rates on all balances — including those incurred after going on active duty — and not charging late or over-limit fees on those accounts.

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